Connect with us

NFTs

Porsche to halt NFT minting after backlash

Published

on

Porsche to halt NFT minting after backlash

Porsche to halt NFT minting after backlash Mike Dalton · 2 hours ago · 1 min read

The cancelled project is the latest in a long line of failed corporate NFT collections.

1 min read

Updated: January 25, 2023 at 12:10 am

Advertisement

Cover art/illustration via CryptoSlate

Porsche will no longer allow users to mint its Ethereum-based NFTs, according to a series of tweets posted by the luxury car company on Tuesday, Jan. 24.

The company alluded to public backlash on Twitter, writing “our holders have spoken.” The company promised to cut the NFT supply and prevent new NFTs from being minted. Users will not be able to mint NFTs after 6 a.m. UTC-5 (EST) on Wednesday.

NFTs that have already been minted are expected to remain in circulation. The company implied that it will continue to work with those who hold minted tokens.

Porsche launched its NFT collection on Monday. The collection’s floor price fell from 0.911 to 0.88 ETH ($1,500 to $1,400) shortly after minting began, and current OpenSea data suggests that the tokens are valued similarly at the time of writing. About 18% of the possible supply had been minted at the time of the previous report.

Advertisement

Various other companies have seen backlash regarding NFTs. Notable past controversies include NFT efforts from ArtStation, Discord, Ubisoft, Sega, and CNN.

Porsche appears to face complaints due to its apparently profit-driven motives.Though past NFT complaints have concerned the environmental impact of mining, Ethereum transitioned to staking last year, thereby reducing those concerns.

Posted In: Ethereum, NFTs

Advertisement

Azuki

Azuki’s Twitter account used to promote fake virtual land mint

Published

on

Azuki’s Twitter account used to promote fake virtual land mint

Azuki’s Twitter account used to promote fake virtual land mint Oluwapelumi Adejumo · 10 hours ago · 1 min read

The hackers posted two tweets with malicious links to promote a fake virtual land mint.

1 min read

Updated: January 28, 2023 at 12:57 am

Advertisement

Cover art/illustration via CryptoSlate

Azuki’s head of community, Dem, said malicious players compromised the official Twitter handle of the bluechip NFT project on Jan. 27.

Several project officials confirmed that the Twitter account was breached and urged the community not to click any link. A community manager Rose tweeted that there was still a fake website on Azuki’s Twitter bio as of press time.

Available information on the social media platform showed that the hackers posted two tweets with malicious links, promoting a fake virtual land mint.

Several blockchain security firms like Wallet Guard and crypto wallets like MetaMask, and Phantom Wallet blocked their users’ access to the phishing link.

Advertisement

The Block’s research director Steven Zheng tweeted that wallets connected to the hacker did not have a single stolen Azuki. Etherscan data shows that one of the wallets held 214 ETH ($343,000) as of press time.

Earlier in the week, Robinhood confirmed that its several social media accounts were used to promote an unassociated crypto token. Besides that, Moonbirds founder Kevin Rose lost NFTs worth millions to hackers who drained his wallet.

Recent NFT Stories

Continue Reading

Crime

NFTs worth millions disappear from prominent Web3 builder’s wallet

Published

on

NFTs worth millions disappear from prominent Web3 builder’s wallet

NFTs worth millions disappear from prominent Web3 builder’s wallet Dorian Batycka · 24 mins ago · 2 min read

Kevin Rose lost over 40 NFTs due to a malicious phishing attack targeting his OpenSea signature

2 min read

Updated: January 27, 2023 at 4:51 pm

Advertisement

Cover art/illustration via CryptoSlate

Kevin Rose, the founder of the NFT collection Moonbirds, had his personal wallet hacked on January 25, draining it of NFTs worth millions.

The PROOF collective founder sent out a Tweet to his 1.6 million followers promising to look into the matter, which has since been connected to a malicious signature Rose granted to the attackers via OpenSea’s Seaport protocol.

Introduced by OpenSea in May 2022, Seaport is an open-source Web3 protocol that bills itself as “focusing on trading safety and efficiency.” Developed with Solidity Assembly language, Seaport allows for a variety of functions to take place on the Ethereum blockchain, including the filling of orders, tipping, advanced filtering capabilities and the elimination of redundant transfers.

According to Rose, he was targeted using a classic case of social engineering known as a phishing attack, a cybercrime in which an attacker tries to trick victims into giving away sensitive information, such as passwords or credit card numbers, by disguising themselves as a trustworthy source — in this case OpenSea. 

Advertisement

The attackers were able to make off with 40 assets, including notable NFTs from projects such as Cool Cats, OnChainMonkeys, Chromie Squiggles, Autoglyphs, QQL Mint Pass, Admit One Pass, and more. Despite being flagged as stolen and reported to OpenSea as such, several of them have been re-sold in the last several days, including one Chromie Squiggle belonging to Rose that sold for 22 WETH. 

It’s not the first time a prominent builder in Web3 has been targeted by signing a malicious transaction that was then verified by OpenSea’s marketplace contract. Three weeks ago, thieves made off with RTFKT COO NFTs worth $170,000 drained during a phishing attack. And three months ago, a scammer by the name of Monkey Drainer made off with over $3.5 million dollars worth of NFTs by also targeting victims with deceptive phishing techniques. 

Phishing attacks are becoming an increasingly prevalent issue. In Q2 2022, phishing attacks increased by 170% compared to the first quarter, as per a report by the blockchain security firm Certik. 

Posted In: Crime, NFTs, People

Advertisement
Continue Reading

Airdrop

Blur NFT Marketplace Surges In Volume And Market Share, Rivaling Industry Leader Opensea

Published

on

Blur NFT Marketplace Surges In Volume And Market Share, Rivaling Industry Leader Opensea

Blur, the non-fungible token (NFT) marketplace, has seen a significant increase in volume since its launch in October. According to statistics from Dune Analytics, Blur has captured about 30% of the market share in terms of sales volume. The NFT marketplace leader, Opensea, commands 48% of the market share.

Blur NFT Marketplace Captures 30% of Market Share in Sales Volume

An NFT marketplace called Blur has seen an increase in market share over the past 30 days. According to statistics from Dune Analytics, Blur holds 30% of the NFT market’s total market share. Crypto market participants believe Blur’s rise is associated with the upcoming launch of its native token, originally scheduled for January 2023 but delayed, according to a statement from the team. The token is now set to be released on Feb. 14, 2023.

“We know this is past our initial estimate of January and we’re sorry for the delay,” the platform tweeted on Thursday. “We’re trying new things and the extra two weeks will allow us to deliver a launch that hasn’t been done before.”

Advertisement
Dune Analytics statistics compiled by @hildobby.

Seven-day metrics from dappradar.com indicate that Blur has recorded $33.06 million in NFT sales. The marketplace is the second-largest in terms of total sales this week, behind Opensea‘s weekly sales of $112.89 million. Twenty-four-hour statistics indicate that Blur’s sales over the last day totaled $5.08 million, compared to Opensea’s $16.24 million. Blur’s rise is similar to that of the Looksrare NFT marketplace, which saw an increase in users when it decided to airdrop 120 million LOOKS tokens, or 12% of the total supply, to the Looksrare community in 2021.

Blur’s all-time sales statistics according to dappradar.com on Jan. 26, 2023.

The incentive to acquire airdropped tokens fueled Looksrare’s sales volumes, and during the fourth quarter of 2021, the NFT platform managed to capture significant volumes alongside Opensea. In January 2022, Looksrare surpassed Opensea’s daily volumes for a short period. Since then, Looksrare dropped from the second-leading NFT marketplace in sales down to the fifth position today. In terms of all-time sales, Blur has captured $458.05 million in sales since its inception.

The NFT marketplace Blur is ranked 11th in terms of all-time sales. It is below NFT markets such as Magic Eden’s $2.07 billion, Looksrare’s $1.69 billion, and X2Y2’s $1.07 billion. However, it has surpassed the all-time sales recorded by the NFT markets Wax Atomicmarket ($441.42 million), Immutable X Marketplace ($387.11 million), and Rarible ($301.95 million).

Tags in this story

Airdrop, All-time sales, Blur, Blur marketplace, Blur NFT, Blur NFT Marketplace, Crypto, dappradar.com, Delayed, Dune Analytics, increase, launch, leader, looksrare, market participants, Market Share, Marketplace, Native Token, nft, NFT Blur, NFTs, Non-fungible Token, Non-fungible tokens, Opensea, sales, seven-day metrics, Statistics, Tokens, volume

What do you think will be the impact of Blur’s native token launch on the NFT market? Will Blur continue to rise in market share and sales volume, or will it face competition from other players in the industry? Share your thoughts in the comments below.

Advertisement
Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement
Continue Reading

Top posts

Russians Offered Ready-Made Crypto Exchange Accounts Amid Restrictions Russians Offered Ready-Made Crypto Exchange Accounts Amid Restrictions
Account1 hour ago

Russians Offered Ready-Made Crypto Exchange Accounts Amid Restrictions

Russian crypto traders have been looking to obtain unrestricted accounts for global exchanges as their access to such platforms is...

Arbitrum-Based Vest Exchange Emerges, Aims To Democratize Perpetual Futures  Arbitrum-Based Vest Exchange Emerges, Aims To Democratize Perpetual Futures 
$1.25 billion7 hours ago

Arbitrum-Based Vest Exchange Emerges, Aims To Democratize Perpetual Futures 

A new decentralized exchange (dex) on Arbitrum, called Vest Exchange, was announced this past weekend, and the team that created...

Best Options this Week Best Options this Week
Uncategorized9 hours ago

Best Options this Week

Looking for the best options this week? The government and the Federal Reserve have created plenty of volatility for options...

Litecoin breaks above its realized price after almost a year Litecoin breaks above its realized price after almost a year
litecoin9 hours ago

Litecoin breaks above its realized price after almost a year

Got a story tip? Email [email protected] Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy...

SBF tried to meet FTX replacement CEO John Ray SBF tried to meet FTX replacement CEO John Ray
Bankruptcy9 hours ago

SBF tried to meet FTX replacement CEO John Ray

SBF tried to meet FTX replacement CEO John Ray Mike Dalton · 4 seconds ago · 2 min read Sam...

Bitcoin liquidations in last 24 hours top $160M Bitcoin liquidations in last 24 hours top $160M
Analysis10 hours ago

Bitcoin liquidations in last 24 hours top $160M

Bitcoin liquidations in last 24 hours top $160M Zeynep Geylan · 25 mins ago · 1 min read Data shows...

Polkadot [DOT] dropped to a key support zone; can bulls prevail? Polkadot [DOT] dropped to a key support zone; can bulls prevail?
altcoin10 hours ago

Polkadot [DOT] dropped to a key support zone; can bulls prevail?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s...

BlockFi permitted to auction mining equipment BlockFi permitted to auction mining equipment
Bankruptcy11 hours ago

BlockFi permitted to auction mining equipment

BlockFi permitted to auction mining equipment Mike Dalton · 2 hours ago · 1 min read Courts have determined that...

Why Solana’s [SOL] recent gains might be undercut by this metric’s findings Why Solana’s [SOL] recent gains might be undercut by this metric’s findings
altcoin11 hours ago

Why Solana’s [SOL] recent gains might be undercut by this metric’s findings

‘Overvalued’ Solana’s indicators seemed to indicate the arrival of market bears  On the contrary, SOL’s demand across the derivatives market...

Twitter moving ahead with payment processing service; crypto integration may come later Twitter moving ahead with payment processing service; crypto integration may come later
Technology12 hours ago

Twitter moving ahead with payment processing service; crypto integration may come later

Twitter moving ahead with payment processing service; crypto integration may come later Dorian Batycka · 42 mins ago · 1...

Stablecoin withdrawals from exchanges reach $800M on Jan. 30 Stablecoin withdrawals from exchanges reach $800M on Jan. 30
Stablecoin12 hours ago

Stablecoin withdrawals from exchanges reach $800M on Jan. 30

Got a story tip? Email [email protected] Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy...

Bitcoin Rise In First Month Of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ To ‘Greed’ Bitcoin Rise In First Month Of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ To ‘Greed’
24 hours13 hours ago

Bitcoin Rise In First Month Of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ To ‘Greed’

Last month, statistics showed that the Crypto Fear and Greed Index (CFGI) had a score of 25, indicating “extreme fear.”...

Unbanked And Mastercard Team Up To Accelerate Crypto Card Adoption Within Web3 Organizations In Europe Unbanked And Mastercard Team Up To Accelerate Crypto Card Adoption Within Web3 Organizations In Europe
litecoin14 hours ago

Unbanked And Mastercard Team Up To Accelerate Crypto Card Adoption Within Web3 Organizations In Europe

press release PRESS RELEASE. Today it was announced that Unbanked, the leading provider of white-label crypto card issuance and program...

Twitter: Elon Musk reportedly plans to build crypto functionality to payments service Twitter: Elon Musk reportedly plans to build crypto functionality to payments service
altcoin14 hours ago

Twitter: Elon Musk reportedly plans to build crypto functionality to payments service

Elon Musk’s Twitter plans on bringing payment services that could add support to crypto Dogecoin registered a rise in its...

Top 10 Data Science Programming Languages You Should Know In 2023 Top 10 Data Science Programming Languages You Should Know In 2023
Data Science14 hours ago

Top 10 Data Science Programming Languages You Should Know In 2023

The Top 10 data science programming languages you should know in 2023 Data science has become an increasingly popular field...

ChatGPT For Writing Marketing Emails ChatGPT For Writing Marketing Emails
ChatGPT15 hours ago

ChatGPT For Writing Marketing Emails

ChatGPT for writing marketing emails is one of the biggest benefits of email marketing it assists businesses to increase user...

Crypto Market Turns Red – Here Are The Key Events To Watch This Week Crypto Market Turns Red – Here Are The Key Events To Watch This Week
Bitcoin Price15 hours ago

Crypto Market Turns Red – Here Are The Key Events To Watch This Week

The crypto market started the year on a positive note where most of the cryptocurrencies doubled their value. Since the...

Biggest Movers: MATIC Retreats From 12-Week High On Monday Biggest Movers: MATIC Retreats From 12-Week High On Monday
Analysis15 hours ago

Biggest Movers: MATIC Retreats From 12-Week High On Monday

Polygon retreated from a multi-month high to start the week, as traders moved in to secure recent gains. Chainlink also...

Trending